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24 November, 07:37

Samantha invests a total of $26,500 in two accounts. The first account earned a rate of return of 14% (after a year). However, the second account suffered a 4% loss in the same time period. At the end of one year, the total amount of money gained was $1,910.00. How much was invested into each account?

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  1. 24 November, 09:42
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    The correct answer is $16500 and $ 10000 each in two accounts.

    Step-by-step explanation:

    Samantha invests a total of $26,500 in two accounts.

    Let Samantha invest $x in one account and $ (26500 - x) in the other account.

    The first account earned a rate of return of 14% (after a year).

    Return earned = 14% of x

    The second account suffered a 4% loss in the same time period.

    Loss suffered = 4% of (26500 - x)

    At the end of one year, the total amount of money gained was $1,910.00.

    Therefore 14% of x - 4 % of (26500 - x) = 1910

    ⇒ 0.14x - 1060 + 0.04x = 1910

    ⇒ 0.18x = 2970

    ⇒ x = 16500

    Therefore Samantha invested $16500 and $10000 each in two accounts.
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